Gold prices rise 0.81% on global cues

At the Multi Commodity Exchange,gold for delivery in August rose by Rs 213,or 0.81 per cent.

Tracking a firm global trend,gold prices rose by Rs 213,or 0.81 per cent,to Rs 26,456 per ten grams in futures trade today as speculators enlarged their positions.

At the Multi Commodity Exchange,gold for delivery in August rose by Rs 213,or 0.81 per cent to Rs 26,456 per ten grams in business turnover of 1,722 lots.

In a similar fashion,the yellow metal for delivery in June moved up by Rs 146,or 0.56 per cent to Rs 26,256 per ten grams in 11,448 lots.

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Market analysts attributed the rise in gold futures to a firm global trend amid speculation that the US Federal Reserve may hint at the need for sustained stimulus in the world’s largest economy,countering further outflows in investor holdings.

Meanwhile,gold rose 0.9 per cent to USD 1,389.26 an ounce in Singapore.

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